Xunlei Q1 Adj $0.01 Down From $0.08 YoY, Sales $80.36M Down From $98.91M YoY
Portfolio Pulse from Benzinga Newsdesk
Xunlei (NASDAQ:XNET) reported a significant decrease in its Q1 earnings and sales compared to the same period last year. Earnings per share dropped by 83.33% to $0.01, and sales fell by 18.76% to $80.36 million.
May 16, 2024 | 10:04 am
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NEGATIVE IMPACT
Xunlei reported a significant decline in both earnings and sales for Q1. Earnings per share fell by 83.33% to $0.01, and sales decreased by 18.76% to $80.36 million compared to the same period last year.
The significant decline in both earnings and sales is likely to negatively impact investor sentiment and the stock price in the short term. A drop of 83.33% in earnings per share and an 18.76% decrease in sales indicate potential underlying issues in the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100